About 20% of the project already is complete, Johnson reports. Steel is now going up on the project, which will be complete in February. Once tenants have moved in, an additional 100,000 square feet will be built for a 2014 opening.

The temperature-controlled facility is bringing 250 construction jobs and 120 permanent jobs to the city. “Despite the most challenging economy most of us have ever seen, Newark is continuing to grow and develop, to bring job opportunities and prosperity to our residents,” said Newark mayor Cory A. Booker at the groundbreaking ceremony. “This project was driven by a group of development partners and City and BCDC professionals working together to turn denizens of doubt into heroes of hope.”


Hollister is including a number of green elements in the construction, including a white reflective roof, solar panels, recycling of debris and the use of hydrogen to power the material handling equipment. “This will be one of the first in the area to do so,” Johnson says.

The project will receive a $45 million Urban Transit Hub Credit on a $65 million capital expenditure project. TD Bank provided a leverage loan under new market tax credit structure for approximately $27 million. The re-investment fund provided new markets tax credits and a pre-development loan of $2 million. “The city has been great to work with,” Johnson says. “It’s been a true partnership with them.”